Customer Experience as the Final Retail Frontier:
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1 Customer Experience as the Final Retail Frontier: Mitigating Price Factors By Delivering What Consumers Really Want in the In-store and Online Experience By: Mark Marone, PhD Developing the 21st century workforce TM
2 Consumer Expectations Across Buying Channels The retail shopping environment today is a multichannel experience. Guided by both rational and emotional needs, consumers set out on their journey searching for information about products, selecting their preferred one, and hoping to purchase it at the best price and in the most convenient and timely manner. The freedom consumers enjoy to move from channel to channel paired with their expectations throughout the buying cycle requires that retailers are prepared to deliver an optimal experience both in stores and online. So how do retailers design and deliver a unique, brand-driven customer experience that will set them apart from the competition and drive long-term loyalty? Developing a strategy that ensures systems, processes, and retail location are aligned to deliver the optimal customer experience in a consistent way across all channels is required. However, a critical piece of a customer experience strategy must be focused on the value-added, personal interaction that delivers not only outstanding and friendly service, but advice and support, ultimately helping shoppers meet their product and emotional needs. Providing a consistent experience online and in stores that drives brand loyalty requires meeting the most important needs and expectations of consumers in both buying platforms. By aligning every channel and activity to deliver a relevant and focused customer experience that meets customer expectations, retailers have a better chance of capturing a higher share of wallet both online and in stores. Survey reveals in-store and online buying behaviors To learn more about the expectations of consumers across buying channels, AchieveGlobal recently completed a survey of nearly 2,500 consumers across the United States. The respondents shared their thoughts on their favorite retailers and described their online and in-store shopping experiences. Additional questions sought to uncover behaviors regarding the practice of showrooming, or shopping for products in brick-and-mortar establishments and then purchasing that product at a lower price online. Listening to how consumers want to buy uncovers real opportunities for turning electronic-savvy price shoppers into loyal customers. 2 Customer Experience as the Final RETAIL Frontier
3 Survey Findings But isn t it only about price, selection, and convenience? In our study, consumers said that price, followed by product and convenience, is most important when shopping for retail items. However, competing on price is rarely a sustainable strategy as most retail establishments are unable to consistently guarantee they can beat the prices of online competitors. So, another strategy is to compete, where possible, by offering the convenience and selection that consumers demand. A strategy focused on price, convenience, and selection alone will not differentiate most retailers as it fails to deliver a unique, branddriven experience and a unique, brand-driven experience is what smart and successful retailers have long known to be the key to customer loyalty. Asking consumers about their experiences with their favorite retail establishments offers some insights into what this experience should look like, how it should be designed, and how it should be delivered. Customer Experience as the Final RETAIL Frontier 3
4 Experiences With a Favorite Retail Store We asked respondents to tell us why they shop at their favorite store, what attributes or characteristics about that store are important to them, and what their favorite store could do to improve their customer experience. Attitudes and opinions about consumers favorite retailers can offer lessons about what drives consumer loyalty and what retailers can do to provide an even better experience. The top five most important characteristics of consumers favorite retail store revolve around price, selection, and service. Figure 1: Top Characteristics of Favorite Retail Store In thinking about your favorite retail store, or the one you shop at most often, how important to you are the following characteristics of your experience? Ver y Important 1. Good value for the money 74.1% 2. Variety and selection 68.9% 3. Easy to do business with (checkout/returns, etc.) 68.8% 4. Always have what I m looking for 64.4% 5. They are consistent 59.9% These top five attributes are necessary but not sufficient factors for creating a competitive customer experience. Retailers must create strategies to consistently design and deliver the other part of the experience equation as well: friendly, helpful associates that make customers feel valued. Meeting Rational and Emotional Needs More than half of all consumers agreed that beyond price, convenience, and selection, the most important characteristics of their favorite retailer involved serviceoriented attributes that meet both rational and emotional needs. These include feeling valued as a customer, friendly staff, and knowledgeable salespeople. Figure 2: Important Service Characteristics at Favorite Retailers 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Important Service Characteristics at Favorite Retailers 30.7% 54.1% They make me feel valued as a customer. Very Important 32.7% 53.4% Everyone is friendly. 32.6% 50.3% Salespeople are very knowledgeable. Somewhat Important Understanding why consumers shop at their favorite store and what they can do to improve identifies key value drivers and strategies for improvement. So, we then asked respondents two open-ended questions: 1) What is the primary reason you shop at your favorite store? and 2) What could they do to improve your shopping experience? Forty-six percent of all responses mentioned price or value as the primary reason for shopping at their favorite store. As the second most-mentioned issue (14 percent), shoppers said they would like the employees at their favorite store to be more friendly and helpful. Designing and delivering the type of friendly and helpful service that supports and is driven by the brand strategy creates a competitive differentiator that retailers will find difficult to attain by competing only on price alone. The customer experience delivered through personal interactions should be designed to meet the rational and emotional needs of customers. 4 Customer Experience as the Final RETAIL Frontier
5 In-Store and Online Buying Opinions and Behaviors We asked consumers a series of questions about whom they buy from online, why they do so, and their experiences with online and in-store shopping from retailers. Overall, consumers still prefer to purchase most products in a store. While 96 percent of consumers said they have purchased something online at one time or another, most (64.6 percent) still prefer shopping in brick-and-mortar stores. Indeed the majority of consumers can be considered moderate online shoppers. Nearly a quarter of respondents (23 percent) are heavy online buyers, purchasing most of the time or always online and only about 15 percent said they buy online rarely or never. Nearly two-thirds either shop online or in a store, but then ultimately purchase the product in a brick-and-mortar retail store. The other third purchase online, with only about one in five (21 percent) shoppers saying they prefer to shop and buy exclusively online (See Figure 3). Figure 3: In Store and Online Buying Opinions and Behaviors Which of the following best describes your online retail shopping behavior? 35.8% 28.8% I usually shop for items online, but then purchase them in a store. I usually shop for items in a store, then buy them online. I prefer to shop for and buy most things only online. 21.3% 14% I prefer to primarily shop for and buy things in stores. For most consumers, their online buying in the next year will stay the same or increase. More than a third of customers expect to increase their online buying, while 61 percent said it will not likely change. Just 5 percent expect to buy less online in the coming year compared with the previous one. The following findings of the survey data highlight not only the trends in cross-channel shopping, but they also point out what customers really want and need beyond price, convenience and selection, and the experiences they expect to have that will ultimately drive long-term loyalty. Customer Experience as the Final RETAIL Frontier 5
6 Consumers prefer to buy in stores because they want the benefit of looking at the product in person and having it now. More than two-thirds (68 percent) said they prefer to shop brick-and-mortar because they want to touch and feel the product and 44 percent said they do so because they don t want to have to wait to have the product shipped (See Figure 4). As such, retailers should create experiences in stores that enhance the ability to touch and feel the product, having associates ready to help select and show the product, and offering a good value to compete with online benefits. However, this should be a multi-channel strategy, and understanding why customers prefer to purchase in stores and online offers an opportunity to accomplish this in a way that provides value consistently in both buying platforms. For example, having information about a product to make a more confident decision should be something retailers deliver in both channels. While the physical touch is clearly not possible in the virtual world, providing clear and complete product information through text and imagery could be effective in meeting this need. Figure 4: Top Reasons for Shopping In-Store Versus Online Which of the following best describes the reason(s) you would typically purchase from brick-and-mortar retail stores rather than their websites? 70% I prefer touching and feeling products. 60% 50% 40% 30% 20% 10% 0% 67.9% 44.1% 28.4% 17.2% 15.5% 6.7% 1% I don't like waiting to have the product shipped to me. I can find better deals in stores. I find it difficult to find and buy what I'm looking for online. I'm not comfortable giving payment information online. The stores I shop at don't have websites. I don't have a computer. Findings from the survey offer clues about what s important to consumers: They want the best product for their needs, a convenient and easy transaction, and a good value. As our study also shows, the opportunity for providing additional value will ultimately create a differentiated experience for customers that will be difficult to replicate by competitors. 6 Customer Experience as the Final RETAIL Frontier
7 Price, free shipping, and selection are key drivers of online shopping behavior. When asked why consumers prefer to shop online, an overwhelming majority said lower prices (69 percent), followed by free shipping/ returns (66 percent) and product availability/ selection (50 percent). One-third mentioned product reviews as being an important motivator for buying online. Again, price, convenience around delivery and returns, product selection, and product information should be important components of an overall customer experience strategy across both the online and in-store channels. Local retailers have an opportunity to capture in-store and online loyalty. We asked consumers to compare the percentage of their total online purchases from brick-and-mortar establishments located near the consumer with those located elsewhere and with those having no physical presence. Consumers said they spent 43 percent of their total online purchases from stores located near them. More than a third of their online purchases (35 percent) were with retailers having only an online presence, such as Zappos or Amazon (See Figure 5). Figure 5: Online Purchases Based on Physical Store Locations Top Reasons for Shopping Online Versus In-Store 69.2% Price was lower 65.9% Free shipping and returns 50.3% Product availability/selection 33.2% Product reviews 27.3% It's just easier to purchase online 17.9% I could see more detail about the product 3% Only find online/had gift card What percentage of your total online purchases in the last year were with the following types of retailers? 35.2% 14.7% 43% Retailers with brick and mortar stores that are located near me Retailers with brick and mortar stores that are not located near me Online only retailers with no stores such as Amazon and Zappos Local retailers are in a good position to capture cross-channel share of wallet by ensuring an optimal and consistent online experience. Being able to offer the best of both physical and virtual worlds convenience, value, selection, and value-added services such as product advice and recommendations will provide retailers with a powerful competitive advantage. Customer Experience as the Final RETAIL Frontier 7
8 Online retailers have an opportunity to improve the customer experience. While more than 60 percent of consumers said their online experience met their expectations, only about 30 percent said their expectations were exceeded or far exceeded. As more retail dollars are being spent online, retailers will need to deliver a shopping experience that consistently meets and exceeds the needs and expectations of consumers. Figure 6: Evaluating Previous Online Shopping Experiences For the last purchase you made online from a retailer, based on your past experiences with, or what you know about the company, please rate how well the experience met your expectations. 2.6% 6.9% 5.8% When asked to explain why their expectations were not met online, many customers mentioned the disparity between what they ordered, or thought they ordered, and what they actually received. Others complained about damaged products, delayed shipping or the hassle of returning items. Overall, the experiences were difficult for these customers, products didn t meet their needs or expectations, and they were ultimately frustrated. The following customer quotes indicate a sample of these experiences: For my most recent purchase, free shipping was advertised, but then not included for the product I wanted, but free in-store pick up was included but the product wasn t available at any location with 45 minutes of my house. They were out of my size and didn t have good size descriptions for the product I wanted. As such, I bought too large a size, which I wouldn t have purchased if the description had been there. 22.5% 62.2% What I ordered is not what I had expected. I changed colors on the item and for some reason that meant it came with different features that were a downgrade from the more attractive colored item. It was far below my expectations. It fell short of my expectations. It met my expectations. The quality of the product was poorer than I was expecting. I wasn t able to feel the product until after I ordered it. It exceeded my expectations. It far exceeded my expectations. 8 Customer Experience as the Final RETAIL Frontier
9 For retailers to create both loyal in-store and online shoppers, consistency and alignment of the experience between the two channels will be critical. Almost 45 percent of consumers said that either the online or in-store experience was inconsistent, or that they were both bad (See Figure 7). Meeting and exceeding customer expectations for convenience, selection, and overall ease of doing business instore and online is essential to creating satisfied and loyal customers. However, finding ways to offer additional value through both channels including expert advice, personalized service, recommendations, etc. when it is aligned with the brand, will be more effective in capturing a higher share of wallet online and in-store. Figure 7: Comparing Online and In-Store Experiences In thinking about a retailer you have purchased from both in-store and online, which of the following statements best describes those experiences? 2.2% 16.1% Both the in-store and online shopping experiences were equally as good. 26.9% 54.8% The in-store experience was better overall. The online experience was better than the one in the store. Both the in-store and online experience were not good. We then asked respondents to explain their answer regarding their online versus their in-store experience. Across both channels, consumers expressed similar needs, although clearly they are not consistently being met. While they confirmed that convenience and value are very important, being able to find helpful and friendly service when it is needed seemed to be equally if not more important. The need for personal service and advice, help with product selections, and in making the overall shopping experience easier was mentioned in both online and in-store channels. The following quotes provided by respondents for each statement in Figure 7 illustrate this point. Customer Experience as the Final RETAIL Frontier 9
10 > Both in-store and online are good: Shopping that offers both consistency and convenience across channels. Clean, easy-tonavigate website. Clean store, friendly people in store. ~ Great customer service both in the store and when making an online purchase. ~ As long as I don t need to return the item, online and in-store shopping are usually equally good experiences. ~ Both places had the item I needed, was able to purchase without problems, and item worked perfectly once purchased. ~ I shop at Kohl s both online and at the store, which is only a few miles from home. If I need something urgently, I go to the store. If I can wait a week, I usually order it online. > In-store is better: It s about taking the risk out of buying, having the information and the human touch. ~ Better physicality of products, especially if it involved items likely too costly to return if it didn t fit my needs. ~ Fit and color are never a problem with an in-store purchase. ~ I just prefer interacting with people in person. ~ I like being able to actually examine things before I buy them. Buying online is a risk so usually I ll only get things I know cannot go wrong. ~ I like to physically see a product before I buy it. Also, if I need help there is a person there to do so. Because when you shop in-store you know exactly what you are purchasing compared to online. > Online is better: Online shopping is convenient, and offers better deals and assistance without the bad service Didn t have to deal with ignorant salespeople and rude clerks. ~ In-store experience awful due to bad customer service. ~ Easier to find products, usually always in stock online, the convenience of online shopping is wonderful. ~ Good customer service is so hard to find. Shopping online keeps me distant from the bad/rude in-store behavior. ~ I was able to find what I was looking for and purchase quickly online; and in the store they didn t have as much, and the customer service was terrible. > Both online and in-store are not good: Both shopping channels offer poor and/or inconsistent experiences. ~ Both experiences have pros and cons, and different levels of convenience apply to both. ~ They both were bad but I still prefer the store over the website. I can also ship to store for free which is helpful. They were both the same; I easily couldn t find what I was looking for. 10 Customer Experience as the Final RETAIL Frontier
11 A majority of consumers who use smart phones to purchase retail items engage in showrooming. Of the 23 percent of shoppers who said they have purchased something on their smart phone, 61 percent said they sometimes or always look at a product in a store and then purchase that product online at a lower price. When compared by age, consumers aged are most likely to showroom as more than 20 percent say they most of the time or always shop in stores and then purchase on their smart phone at a lower price (See Figure 8). Figure 8: Frequency of Shopping Online With a Smart Phone While In-Store How often have you found a product in a store and then used your smart phone while still in the store to locate and purchase the product elsewhere online at a lower price? 12.7% 45.1% Never Rarely Sometimes 5% 11.9% 25.3% Most of the Time Always Rather than perceiving this as a threat, retailers should take the opportunity to provide value to customers who are price shopping by offering personalized service, ensuring they find the best product for their needs, and upselling or cross-selling when appropriate. This experience will offer value that consumers are unlikely to encounter when price searching online. For those consumers or product categories that don t require value-add experiences, then retailers should make it as easy as possible for consumers to accomplish their goals by facilitating their mobile purchases. Conclusion: Delivering a Complete, Multi-Channel Customer Experience to Drive Loyalty Price competition from large retailers such as Wal- Mart combined with the number of low-priced online competitors has never been greater. The growing practice of showrooming has made it even easier for customers to combine the best of both worlds touching and feeling a product then locating it online at a lower price. Retailers have an opportunity to drive loyalty and capture a larger share of wallet both in-store and online. This can be accomplished by providing a welldesigned and consistent overall customer experience that includes not only price, convenience, and selection, but value-added services delivered through associates, virtually, or in-person. So, what is the key differentiator for the retailer? Consumers told us there is room for improvement when it comes to friendliness of staff and having enough staff to make the shopping experience faster and easier. For the retailer, this looks like a deliberate, branddriven experience encompassing knowledgeable and friendly staff members who are able to help facilitate an easy and convenient shopping experience, getting customers what they need and offering value-added advice. Retailers that are able to accomplish this consistently across buying channels will be more successful at driving long-term loyalty. Even though online shopping will continue to grow with more than a third of respondents saying they expect to increase online spending, consumers still say they preferred to purchase in-store when it was important for them to touch and feel a product and to have it immediately. So, it s clear that continuing to improve in-store experiences combined with enhancing the online shopping experience is the winning combination for retailers to increase loyalty, share of wallet, and ultimately to remain competitive. Customer Experience as the Final RETAIL Frontier 11
12 About the Author Mark Marone, PhD Research Consultant, AchieveGlobal Mark Marone, PhD, has more than 15 years of academic and private-sector experience in market research and consulting on issues such as business development, corporate strategy, and customer loyalty. Mark has written extensively on topics in sales strategy and sales best practices, as well as trends in customer service and corporate leadership. He has been a featured speaker and presented research findings at numerous international academic and professional conferences. He earned a PhD from Indiana University and held several academic posts, including adjunct professor of business at the University of South Florida. About AchieveGlobal In the 21st century, the level of human skills will determine organization success. AchieveGlobal provides exceptional development in interpersonal business skills, giving companies the workforce they need for business results. Located in over 40 countries, we offer multi-language, learning-based solutions globally, regionally, and locally. We understand the competition you face. Your success depends on people who have the skills to handle the challenges beyond the reach of technology. We re experts in developing these skills, and it s these skills that turn your strategies into business success in the 21st century. These are things technology can t do. Think. Learn. Solve problems. Listen. Motivate. Explain. People with these skills have a bright future in the 21st century. AchieveGlobal prepares you for that world. World Headquarters 8875 Hidden River Parkway, Suite 400 Tampa, Florida USA Toll Free: Developing the 21st century workforce TM AchieveGlobal, Inc. M01423 v. 1 (09/2013)
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